X Ltd. sold its subsidiary, S Ltd. to Y Ltd. on 1st July, 2012 for ~ 200 crores. In addition, X Ltd. will get ₹ 10 crores if the subsidiary (S Ltd.) can earn a targeted profit of ₹ 20 crores for the year 2012-13. At the time of preparing financial statements for the period 2012-13, X Ltd. had the information that S Ltd.’s profit for the period was less than targeted profit of ₹ 20 crores. Therefore, sales proceeds of ₹ 200 crores were taken into consideration. Before the approval of financial statements, X Ltd. was informed officially by Y Ltd. that the profits of S Ltd. for the year 2012-13 as per audited accounts is ₹ 21 crores. Now, X Ltd. should:
A. Adjust the financial statements for additional ₹10 crores sale proceeds (to be received)
B. Leave the financial statements but, disclose it by way of a note
C. Ignore it now